Recently, the crypto market has begun to adjust after reaching new all-time highs. Bitcoin has been fluctuating around $87,785, while Ethereum hovers near $2,943. It seems that short-term enthusiasm has cooled down quite a bit, but some interesting developments are happening behind the scenes.

Data shows that the total M&A transaction volume in the crypto industry reached $86 billion in 2025, setting a new record. What does this indicate? While capital is no longer as impulsive, it is instead becoming more cautious and strategic about the future. Market attention is also shifting—from simply speculating on prices to focusing on regulatory breakthroughs and real-world applications.

The most significant progress is the passage of the U.S. GENIUS Act. This legislation establishes a clear federal regulatory framework for stablecoins, which many see as a major positive for the crypto industry. With policy clarity, the total market cap of USD stablecoins has already surpassed $300 billion. Even more interestingly, global payments giant Visa recently opened a channel—U.S. banks can now settle directly using USDC on the Solana chain. This is not just hype; it’s a practical application that genuinely improves transaction efficiency.

However, market sentiment remains divided. While Bitcoin remains a hot topic of discussion, some are starting to compare its price movements to gold and silver. On the other hand, Ethereum continues to attract attention due to large institutional staking, with some analysts even projecting long-term targets of $7,000 to $9,000.

In short, this is a period of balance. On one side, investors are waiting for new trends; on the other, regulatory frameworks and real-world applications are gradually maturing—stablecoins breaking through in cross-border payments is a prime example. In the long run, these changes are paving the way for the next phase of market growth.

Based on this logic, long-term focus: ETH, SOL